StockNews.com Initiates Coverage on Arcadia Biosciences (NASDAQ:RKDA)

Analysts at StockNews.com initiated coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research report issued to clients and investors on Wednesday. The brokerage set a “sell” rating on the basic materials company’s stock.

A number of other research analysts have also commented on RKDA. HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Arcadia Biosciences in a research note on Wednesday, August 21st. Lake Street Capital upgraded shares of Arcadia Biosciences to a “strong-buy” rating in a research note on Tuesday, May 14th.

Arcadia Biosciences Price Performance

Arcadia Biosciences stock opened at $2.69 on Wednesday. The firm has a market capitalization of $3.66 million, a PE ratio of -0.52 and a beta of 1.34. The company’s 50-day moving average is $2.89 and its 200-day moving average is $2.67. Arcadia Biosciences has a fifty-two week low of $1.85 and a fifty-two week high of $4.32.

Arcadia Biosciences (NASDAQ:RKDA) last released its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.49). The firm had revenue of $1.31 million for the quarter, compared to analyst estimates of $0.95 million. Arcadia Biosciences had a negative return on equity of 57.51% and a negative net margin of 127.29%. During the same quarter in the prior year, the firm earned ($2.64) earnings per share. As a group, analysts expect that Arcadia Biosciences will post -1.7 EPS for the current year.

About Arcadia Biosciences

Arcadia Biosciences, Inc produces and markets plant-based food and beverage products in the United States. The company develops crop improvements primarily in wheat to enhance farm economics by improving the performance of crops in the field, as well as their value as food ingredients. Its food, beverage, and body case products include GoodWheat, Zola coconut water, ProVault topical pain relief, and SoulSpring.